Allied Market Research

2024

Digital Security Market

Digital Security Market Size, Share, Competitive Landscape and Trend Analysis Report by Component Type, by Organizational Size and by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2023-2032

IC : Software and Services

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Author's: | Onkar Sumant
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Digital Security Market Statistics: 2027

Digital security is defined as the tool used to secure identity, assets, data, and devices. It is way of protecting online identity as it represents physical identity on the network of organizations, which are operating on the internet service. 

Digital Security Market

It helps organizations to secure internet files & accounts from the threat of an external user. Digital security provides data protection, network security, and protection from external threats. 

COVID-19 scenario Analysis:

  • The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted the supply chain of electronic components & networking equipment. Thus, this has led to delay in supply of electronic components required in manufacturing of equipment. 
  • It is expected that the U.S. and global tech market growth is slowing down to nearly 2% in 2020, due to which ICT spending in major economies such as the U.S. have declined in the first half of 2020, but it is expected to recover in the second half. 
  • In addition, there is a notable ramp-up in technologies such as work-from-home infrastructure, collaboration tools, virtualization infrastructure, VPN networking, mobile devices, security, desktop support and zoom during the COVID-19. Interest for video conferencing solution is surging during the crisis. This generates large amount of data and will require high end technologies to analyze.
  • Furthermore, there are strong indications that the current decrease in demand for technology and digital solutions will be just a short-term phenomenon. In the medium-to-long run the COVID-19 technology impact may be extremely positive. Everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected. 
  • In such times, digital security solutions is a key mitigation tool for these cyber threats and are gaining utmost importance to ensure that companies are secure, and their communications and data are efficiently protected. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Increase in demand for data safety and security majorly drives growth of this digital security market. In addition, growing need for strong authentication & network surveillances further fuels growth of the market. However, high initial setup and maintenance cost of digital security solutions restrains growth of this market. Furthermore, rise in demand of digital security system in telecommunication as well as internet security industry is opportunistic for the market.

Increase in demand for data safety & security: 

The major concern for any organization is the security of their private data collected and stored. With the help of digital security, organizations would be able to protect their data from cyber-attacks. However, with the use of data security tools the organizations are able to collect a large amount of data in addition with the security. Hence, due to high data security offered by digital security solutions, its adoption is expected to increase.

High implementation cost

One of the major challenges in the implementation of digital security is the cost required for installation, configuration, and maintenance. As the digital security is dependent on the heavy data driven technology and it consists of very expensive and complex tools which requires a huge amount of operational cost, thus expected to act as a restraining factor for the digital security market. 

Key benefits of the report:

  • This study presents the analytical depiction of the global digital security market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global digital security market share.
  • The current market is quantitatively analyzed to highlight the global digital security market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the digital security market. 
  • The report provides detailed digital security market analysis based on competitive intensity and how the competition will take shape in coming years. 

Digital Security Market Report Highlights

Aspects Details
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By Component Type
  • Hardware
  • Software
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By Organizational Size
  • Small & Medium Enterprise
  • Large Enterprise
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By Industry Vertical
  • IT & Telecom
  • BFSI
  • Government & Defense
  • Healthcare
  • Retail & E-commerce
  • Automotive
  • Others
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By Region
  • North America  (US, Canada)
  • Europe  (Germany, UK, France, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

ABB Ltd., Oberthur Technologies, HID Global Corp., Morpho Inc., NEC Corp., Vasco data security International LLC, Fireeye Inc., RSA Security LLC, Cisco Systems., Safenet Inc.

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Digital Security Market

Global Opportunity Analysis and Industry Forecast, 2023-2032